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    • Bunny4jeff
    • By Bunny4jeff 6th Sep 17, 8:51 AM
    • 7Posts
    • 1Thanks
    Barclaycard eligibility check fail for consolidation card
    • #1
    • 6th Sep 17, 8:51 AM
    Barclaycard eligibility check fail for consolidation card 6th Sep 17 at 8:51 AM
    Realising that i may in the future find it difficult to make all the monthly payments on my current credit cards, I followed MoneysavingsExpert's video advice to apply through Barclaycard for a special balance transfer card, to consolidate my payments to one more affordable amount. I am currently not owing anyone or overdrawn, but doing the eligibility pre-check they provide gave me the result that I would not be accepted. This was not the impression given in the video. Does anybody know of anyone who would be prepared to offer a card or loan to those who can foresee possible problems ahead, and wish to do something about a consolidation before it becomes a genuine problem? I and I'm sure, many others are trying to do something to help the situation, not burying our heads in the sand. Surely there is some help out there, of a practical nature for those looking for it, before it becomes necessary? I would have thought I was taking a welcome practical approach but noone seems willing to help.
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    • zx81
    • By zx81 6th Sep 17, 9:11 AM
    • 17,791 Posts
    • 18,918 Thanks
    • #2
    • 6th Sep 17, 9:11 AM
    • #2
    • 6th Sep 17, 9:11 AM
    It very much depends on your circumstances - particularly current limits, balances an income, when it comes to consolidation.

    Plus of course, any pertinent data from your credit files.

    People who need to consolidate are much higher risk, hence the likelihood of declines.
    • dresdendave
    • By dresdendave 6th Sep 17, 10:27 AM
    • 767 Posts
    • 944 Thanks
    • #3
    • 6th Sep 17, 10:27 AM
    • #3
    • 6th Sep 17, 10:27 AM
    Well done for realising you need to tackle your situation before it spirals out of control. Transferring all your current balances to a new card can help, as long as the APR on the new card is lower.
    The issue from a lender's perspective is you are applying for yet another card, with no guarantee you will stop spending on your other cards.

    Another approach is to cut your spending to the bare minimum and/or increase income and throw extra money at paying off the cards, tackling the balance with the highest APR first. This means you start reducing your debt rather than just moving it.

    You may find as your total debt decreases your eligibility for "better" cards improves.

    Good luck.
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